TBI Blogs: RBI’s Decisions Affect the Lives of All Indians Everywhere, But What Does the Bank Actually Do?
The Reserve Bank of India is the country’s central banking institution, and controls the monetary policy of the Indian Rupee. But that’s not its sole function.
The Reserve Bank of India is the country’s central banking institution, and controls the monetary policy of the Indian Rupee. But that’s not its sole function.
Over a history of over 81 years (it started operating on April 1, 1935), the Reserve Bank of India has been the country’s most important financial institution. Since its nationalisation in 1949, India’s central bank has been at the heart of the country’s economic and financial development, and continues to play a pivotal role in the government’s development strategy for the future.
Yet, despite being such a vital institution, few people understand the Reserve Bank’s essential functions. In the short video below, Factly presents the most important functions of the Reserve Bank of India, simplified so as to raise them from the obscurity that surrounds the functioning of the country’s central institutions. Watch the video to learn more!
To know more about the Reserve Bank of India and its various functions, check out its website.
Featured Image Source: Flickr
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